GAME over in two weeks as administration looms

UK videogames retailer GAME is on the brink of administration. Senior staff have been told they have roughly two weeks to save the business, or else it may disappear from our high streets and online forever.

According to a report in MCV, the games industry trade magazine, GAME Group's chief executive officer Ian Shepherd has warned his management team of the impending decision. And it's looking more and more likely that the only thing that could turn around the company's fortune would be a takeover by US retailer GameStop, either in total or part.

The news comes as its online site and stores in the UK have launched what it calls a "Spring Sale" - a clear out of stock at remarkably low prices, echoing a similar event that occurred during Zavvi's final throes.

If a significant amount of cash can be raised from the mass sale, however, it could be enough to keep the company solvent until a suitable buyer can be found.

Either way, these are sad times for the retailer who couldn't even stock today's massive release, Mass Effect 3, because of a break down in credit negotiations with software house Electronic Arts.

Will you be sad to see GAME go? And what went wrong? Let us know in the comments below...